AUDUSD Daily Analysis – May 30, 2018

AUDUSD broke below the bottom support trend line of the price channel on the 4-hour chart, suggesting that the upside movement from 0.7412 had completed at 0.7605 already. Further decline could be expected in the coming days and next target would be at 0.7400 area. Resistance is at 0.7530, only a breakout of this level could trigger another rise towards 0.7700.